Hyundai passes GST benefits to customers

Hyundai Motors, one of the leading car manufacturers in the country, has announced a price reduction on its products in the country. The fresh announcement from Hyundai comes within a week of implementation of the Goods and Services tax (GST) which is effective from 1 July 2017. In Delhi, the price reduction is up to 5.9 per cent on the ex-showroom cost and the rate of reduction varies in each state and across the car range, depending on the earlier VAT rates.

In Delhi, the price reduction is up to 5.9 per cent on the ex-showroom cost. The revised reduced price for the entry-level vehicle Eon ranges between Rs 1,400 to Rs 6,000. The reduced price on the Grand i10 ranges between Rs 6,000 - Rs 7,000. The Xcent on the other hand attracts a discount ranging between Rs 6,000 - Rs 9,000. The Elite i20 attracts a discount between Rs 6,000 - Rs 28,000. Discount on the Elite i20 ranges between Rs 8,500 – Rs 14,000. Post GST, Hyundai Verna’s price has dropped by Rs 10,000 to Rs 47,000. Hyundai Elantra price has reduced between Rs 50,000 – Rs 57,000. Hyundai popular seller, Creta, now comes with discounts ranging from Rs 37,000 – Rs 64,000. The Tucson SUV discount ranges between Rs 86,000 – Rs 1.14 lakh. Hyundai’s most expensive product in India, the Santa Fe, now attracts a price drop ranging between Rs 1.7 lakh – Rs 1.92 lakh.

Moving forward, it will be interesting to see how Hyundai prices the upcoming new-gen Hyundai Verna in India. Since the Korean automaker is the only one to come closest to the country’s leading manufacturer Maruti Suzuki, we believe that the new Verna might be priced competitively.